Ecclestone optimistic after the meeting between the FIA and FOTA

Bernie Ecclestone stated that the FIA and the FOTA are about to reach an agreement to secure the future of Formula 1 with the teams involved.

The Formula 1 boss confirms that the two-tier system will not be implemented.

The most important item on the agenda for the Formula 1 teams is the budget cap that the FIA wishes to implement next season.

The budget cap would offer teams using it a number of advantages, but something that seems totally important for most current F1 teams.

The budget cap could be adopted for next season, but only if the FIA manages to reach an agreement with FOTA on the budget cap limit.

« The two-tier system is not suitable for F1, » Ecclestone confirmed to the Daily Mail.

« I always thought it was a bit silly. There was a main agreement. Everyone is happy with a budget cap, it’s just a matter of amount. I am convinced that all the teams will still be present next year. »